Halliburton, Baker Hughes extend merger deadline
Halliburton Co. and Baker Hughes Inc. will extend to April 30 the time period for closing their pending $26 billion merger as they work to satisfy U.S. Justice Department concerns.
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Congress reaches fiscal deal that ends US oil export ban
Congressional leaders agreed on a fiscal plan that would avert a U.S. government shutdown and lift the 40-year-old ban on crude oil exports, House Speaker Paul Ryan told fellow Republicans during a closed-door meeting Tuesday night.
Vistem unveils major expansion plans and jobs boost
An equipment supplier that lists BP, Shell and Total among its clients has unveiled major expansion plans that include taking its headcount from five staff to 15 and relocating its Aberdeen office to larger premises. Fraserburgh-based Vistem – which provides products including inflatable shelters and low-level access lifts – aims for a five-fold increase in turnover from £760,000 in 2015 to £4million in 2016.
Technology created by Aquamarine goes up for sale
Technology developed by wave energy company Aquamarine Power has been put up for sale as its administrators try to recoup some of the £90 million invested in the business. Graham Newton and James Stephen from accountancy firm BDO were appointed as administrators of the Edinburgh-based company in October. They were asked by its directors to find a buyer or investors for the business, but a month later in November no offers were on the table and so the firm ceased trading, with the loss of 13 jobs in Edinburgh and one in Belfast.
Fuel retailers urged to cut diesel price to under £1 per litre
Fuel retailers have been urged to cut the price of diesel to under £1 per litre. Unleaded fell below that symbolic level at many supermarkets last week for the first time since 2009, excluding promotions. But diesel remains more expensive despite its wholesale price being around 3p per litre (ppl) cheaper than unleaded.
Aker Solutions warns of possible job losses after missing out on Statoil contract
Aker Solutions today warned it could be forced to cut jobs, after missing out on a deal with Norwegian operator Statoil.
Shale task force calls government carbon decision ‘absurd’
The Government’s decision to drop a £1 billion competition to develop technology to capture and store carbon emissions from power plants is “absurd”, it has been warned.
Petrofac boasts record backlog
Petrofac confirmed a record backlog, totalling $18.5billion in its latest financial update.
Never mind $35, world’s cheapest oil is already close to $20
As oil crashed through $35 a barrel in New York, some producers were already living with the reality of much lower prices
Technology Tuesday: Steam powering ahead with North Sea heavy oil vision
If you want to know the kind of technology it will take for the Steam Oil Production Company to develop the discoveries it has bought from EnQuest - the clue's in the name.
Opinion: Fracking undefendable after Paris climate talks
The recent agreement at the Paris conference on climate change, COP21, is according to Barack Obama “the best chance we have to save the one planet we have”.
Pemex expands to Houston as it nears $100billion in debt
The opening of Petroleos Mexicanos’s first- ever gasoline station in Houston featured several cultural reminders of the company’s origins. There were mariachis dressed in traditional Charro suits, trumpet-heavy Mexican music and, of course, tacos.
OPEC history shows it can deal even bigger blows to oil price
Oil’s slump of more than 10 percent in New York since OPEC met on Dec. 4 has struck fear into any remaining crude bulls. The last time the group rattled the market like this -- after its November 2014 meeting -- the pain was much deeper.
Petrofac lands $400million of UKCS work
Petrofac has landed UKCS contract extensions, totalling $400million.
Shell, BG deal snaps up Chinese clearance
Shell's multi-billion takeover of BG has been given the go-ahead by Chinese officials, surpassing its final clearance hurdle.
IOG signs “breakthrough” deal with Transocean for North Sea’s Skipper
Independent Oil and Gas (IOG) has signed a "breakthrough" deal with Transocean for its North Sea Skipper prospect.
Big oil, make way for big solar. The winners and losers in Paris
Saving the world isn’t going to be cheap. If you sell oil, coal or old-fashioned cars, that threatens disaster. For makers of stuff like solar panels, high-tech home insulation, and efficient lighting, it’s a potential miracle.
Statoil awards Ocean Installer North Sea work
Ocean Installer has landed a deal from Statoil for work on its North Sea Troll C field.
Kemp: cause for optimism towards 2017 but 2016 will be “painful”
Oil expert Professor Alex Kemp has said there is some cause for optimism that the oil price may rally in 2017, but not before it endured a "painful" 2016.
Video: P&J Business Editor shows you how to make your Christmas Wishes video
We asked Press and Journal Business Editor Erikka Askeland to take readers through how to record their Christmas Wish.
SSE paid to shutoff windfarm
An energy giant was paid nearly £600,000 in less than a month - to turn off its windfarm and not produce any electricity.
Statoil acquires Alfra Sentral stake, becomes main operator in Eagle Ford
Norwegian operator Statoil has become the sole operator in the US Eagle Ford shale play after striking a number of deals with Repsol. The company has acquired the Spanish players 13% interest in the acreage, as well as assuming operatorship of the BM-C-33 licence in Brazil’s Campos basin. Statoil said it has also farmed down a 15% interest to Repsol in the Gudrun field on the Norwegian Continental Shelf.
Shell’s New Zealand review sign of rationalisation as BG merger moves closer
Oil major Shell is shifting to portfolio rationalisation as the move to a merger with BG Group nears one step closer, according to a leading analyst. Tom Ellacott, from Wood Mackenzie’s Corporate Analysis team, said a combined portfolio between the two companies will now be defined by its geographical reach.
Chevron completes North Sea jobs consultation, confirms job losses
Chevron has completed a jobs consultation process which will see a reduction in headcount by 140 positions from its North Sea operations. Earlier this week the company said it would be reducing its spending in 2016 by around 24%.
Former chief secretary to Treasury Danny Alexander knighted
Former Highland MP and chief secretary to the Treasury Danny Alexander was yesterday knighted by Prince Charles. Sir Danny, as he now is, was one of the four Liberal Democrats who drew up the Coalition government agreement in 2010. The 43-year-old, who was accompanied at Buckingham Palace by his wife Rebecca and daughters Isabel, eight, and Isla, five, said: “It was a great honour and a wonderful ceremony and it’s all rather humbling.